'This is going to be game-changing,' said Rena Conti, an associate professor at Boston University's Questrom School of Business who studies drug pricing.
Tuesday represents the most important effort in decades to reform how drug prices are set in the U.S. — the nation that spends more per capita on medicine than any other industrialized country.
While the law only addresses how Medicare, the health care program for seniors, sets drug prices, advocates of drug reform hope it will set a roadmap for other payers to lower soaring drug costs. In 2019, 1.5 million seniors spent more than $2,000 on prescriptions, according to the Kaiser Family Foundation. But the true number may be higher, said Dusetzina, pointing to research showing that 30% of Medicare beneficiaries who face high prices for cancer treatments don't fill their prescriptions.
The bill makes more seniors eligible for low-income subsidies intended to pay for Medicare prescription drugs.rises to 150% of the federal poverty level, from today's limit of 135%.
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